Seventy-Two Inc., a developer of radiology equipment, has stock outstanding as follows: 80,900 shares of cumulative preferred 3% stock, $15 par, and 401,200 shares of $23 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $55,900 ; second year, $77,800 ; third year, $78,500 ; fourth year, $99,800 .

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